in Value During Ten Years At a meeting of the Shanghai Land, Valuers® & Surveyors' Society ast week, when Me. P. Peebles presided, My N. L. Sparke, rad a comprehensi ant papd Property. Valuati He said:—
When a property is let on Jeace the owner who grants the lease owns the freehold and if the rental value of the property is more than the rent covered by the Tease, ihe property will have. two distinct values namely the freehold value wveyors engaged the valua-|4 and the leasehold value. There will also probably be a deferred value tion of land and property in Shang-attached to the freehold represent hai have so far been fortunate in ing the increased value to be realized the fact that land values, generally fat the termination of the lease. speaking, have steadily increased, id up to thix date no very serious Sinking Fund depreciation hax taken place. The In the case of a building lease question of the liability of the there will, of course, be a free-jer has not arisen, and loss on hold and x leasehold value, and it mortgage loan is a compavitively is necessary in valuing the leasee's yare occurrence. interest to deduct from the net Valuation of property may be rents @ sum sufficient to provide a required for one of the following sinking fund which will enable him to recover his capital at the ter-Advising a ander or purchas mination of the lease.
Text read from the printed page and cleaned; old type leaves the occasional error.